Sunmark Provides $2.8M Acquisition Loan For Office Building In Saratoga Springs
FINANCED
$2,800,000
New York
See Similar DealsOffice
Financed 11/28/2022
FINANCED
Sunmark Provides $2.8M Acquisition Loan For Office Building In Saratoga Springs
260 Broadway
See Similar DealsOffice
Financed 11/28/2022
Summary
NEW YORK
Asset Type:Office
Transaction Type:Loan
260 Broadway, located in Saratoga Springs, was recently involved in a loan transaction. The property, an office asset, was part of an acquisition that took place on November 28, 2022. The lender for this transaction was Sunmark, providing a loan amount of $2,800,000. The loan terms include an 80% loan-to-value ratio, a rate of 5.61%, a 10-year term, and a 25-year amortization.
Summary of transaction details
- Property Type: Office
- Transaction Amount: $2,800,000
- Date: 11/28/2022
- Address: 260 Broadway
- Market: Saratoga Springs
- Lender: Sunmark
Colin Mitchell, representing SCOPE Capital Group, played a key role as the broker in this loan transaction. The landlord of the property is Capital Companies NY. The loan's acquisition was facilitated by Colin Mitchell, showcasing his expertise as a broker specializing in office assets.
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Deal Type
30 years
10 years
Debt Service Coverage Ratio (DSCR)
1.05x
Max Loan Amount
$2,800,000.00
Monthly NOI$18,666.67
Monthly Debt Service$17,697.90
Change in Cash Flow$0.00
Refinance Proceeds$0.00
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